New York (AFP)
Wall Street managed to finish in the green on Thursday, led by the technology sector and communications services.
The New York place has also tempered its hopes of an imminent agreement on an American economic aid plan.
Its flagship index, the Dow Jones Industrial Average, gathered 0.13% to 27,816.90 points.
The technology-heavy Nasdaq jumped 1.42% to 11,326.50 points and the S&P 500, which represents the 500 largest companies on Wall Street, advanced 0.53% to 3,380.76 points.
The day before, boosted by good echoes of the negotiations between the White House and the opposition for a new fiscal stimulus, the Dow Jones had gained 1.20% and the Nasdaq 0.74%.
The S&P 500 ended up 1.05%.
But on Thursday, optimism gave way to skepticism as the positions of Democrats and Republicans on a new massive economic support plan still seem "very distant", according to parliamentary officials from both camps.
The Dow Jones suffered as a result, falling in the second half of the session after having started well.
The index barely finished in positive territory.
"I have the impression that the market took its wishes for reality. It really wants these negotiations to succeed," commented Gregori Volokhine of Meeschaert Financial Services.
But if these negotiations are stalled for now, "that does not mean that they will not resume," he added.
The pressure remains strong to support the US economy, he said, as US airlines have announced massive cuts to their workforce.
"It shows how there are still whole branches of the economy that need help and that if that help does not come, who are we to blame? Democrats and Republicans alike," he said. explained the analyst.
Tech stocks, on the other hand, strongly attracted buyers.
Given the spread of the virus in Europe and the worrying figures in New York, "what is working very hard? It's tech, which appears as the antidote to Covid-19", continues Mr. Volokhine.
“People are not going to go less to Amazon, they are not going to use the + cloud + less. Now, with the epidemic, when you are worried, you buy tech,” he concluded.
Microsoft and Apple took around 1% while Facebook gained almost 2%.
Headlines from communication platforms took advantage of the enthusiasm.
Desktop communications software Slack gained almost 4%, Roku, the streaming TV service, gained more than 6% and Zillow, the real estate site was up 5.50%.
The S&P oil sector sank for the second straight session (-3.13%) in the wake of falling oil prices.
The reported lower quarterly sales for automaker GM did not deter investors, as they were already a thing of the past when the economy was paralyzed.
The title climbed 2.67%.
The investment company Mountain Crest Acquisitions, on the Nasdaq, which will serve as a vehicle for Playboy's IPO, by merging with the publisher of the erotic magazine, charmed buyers: + 1.08%.
© 2020 AFP